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teleo-codex/decisions/internet-finance/manna-finance-futardio-fundraise.md
Teleo Agents 0da42ebbf1 schema: move 68 decision_market entities to decisions/internet-finance/ 
Separates governance decisions from entities. decision_market type replaced
by type: decision in new decisions/ directory. Entities (companies, people,
protocols) remain in entities/{domain}/.

Architecture: Leo (schema), Rio (taxonomy), Ganymede (migration), Rhea (ops)
Implemented by: Epimetheus

Pentagon-Agent: Epimetheus <968B2991-E2DF-4006-B962-F5B0A0CC8ACA>
2026-03-16 17:31:07 +00:00

2.4 KiB
Raw Blame History

type entity_type name domain status parent_entity platform proposer proposal_url proposal_date resolution_date category summary tracked_by created key_metrics
decision decision_market Manna Finance: Futardio Fundraise internet-finance failed manna-finance futardio Manna Finance team https://www.futard.io/launch/5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5 2026-03-03 2026-03-04 fundraise Zero-interest CDP protocol on Solana seeking $120K for 12-month runway rio 2026-03-11
raise_target total_committed outcome duration oversubscription_ratio
$120,000 $205 refunding 1 day 0.0017

Manna Finance: Futardio Fundraise

Summary

Manna Finance attempted to raise $120,000 through Futardio to build a Liquity V1-style zero-interest CDP protocol on Solana. The fundraise sought 12 months of runway at $10,000/month burn rate, with funds allocated to smart contract audit ($15-25K), mainnet deployment, founder salary, and liquidity bootstrapping. The raise failed catastrophically, receiving only $205 in commitments (0.17% of target) before closing in refunding status after one day.

Market Data

  • Outcome: Failed (refunding)
  • Raise Target: $120,000
  • Total Committed: $205
  • Duration: 1 day (2026-03-03 to 2026-03-04)
  • Oversubscription: 0.17%

Significance

This represents one of the most severe fundraise failures on Futardio's platform, with the raise attracting less than 0.2% of its target. The failure occurred despite detailed documentation including competitive analysis, roadmap, team structure, and go-to-market strategy. The project proposed MetaDAO futarchy governance from launch and positioned itself as the only zero-interest CDP on Solana, but failed to attract capital.

The rapid closure (1 day) and refunding status suggests either lack of market interest in the CDP model on Solana, insufficient team credibility, or poor market timing. The project competed against established Solana stablecoins (USX, USDv, jupUSD, USDGO) with different mechanisms.

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